The S&P 500 and Nasdaq Composite hit record highs on Monday as the Dow fell further from its own all-time high as growth stocks outperformed.
The Nasdaq climbed 0.98% while the S&P rose 0.23%. The Dow Jones, meanwhile, lost 151 points, or 0.44%.
|Me: DJI||MEDIUM DOW JONES||34283.27||-150.57||-0.44%|
|SP500||S&P 500||4290.61||+9.91||+ 0.23%|
|I: COMP||NASDAQ COMPOSITE INDEX||14500.508147||+140.12||+ 0.98%|
The joint session came after President Biden said on Sunday he would sign the $ 953 billion infrastructure deal reached by a bipartisan group of senators if he arrived at his office without the separate reconciliation bill. supported by Democrats that would provide funding for human infrastructure.
In equities, large-cap tech stocks led the advance with Apple Inc., Amazon Inc. and Nvidia Corp. among the most efficient.
|AAPL||APPLE INC.||134.78||+1.67||+ 1.25%|
|AMZN||AMAZON.COM, INC.||3,443.89||+42.43||+ 1.25%|
|NVDA||NVIDIA CORP.||799.40||+38.16||+ 5.01%|
Dow Component Boeing Co.’s 777X plane is unlikely to receive Federal Aviation Administration certification until mid-2023 at the earliest, the agency said on Sunday.
|BA||THE BOEING CO.||240.04||-8.21||-3.31%|
|TSLA||TESLA, INC.||688.72||+16.85||+ 2.51%|
Meanwhile, Tesla Inc. will “recall” 300,000 Model 3 and Y vehicles manufactured and imported in China to update its driver assistance software. Car owners will not be required to bring their vehicles to the dealership as upgrades can be done online.
The shares of Carnival Corp. have come under pressure after the cruise ship operator announced plans to sell up to $ 500 million in new common stock. Elsewhere in space, Royal Caribbean Cruises Ltd. said two passengers on his Adventure of the Seas ship tested positive for COVID-19. Rival Norwegian Cruise Line Holdings Ltd. fell in sympathy.
|RCL||ROYAL CARABES GROUP||83.45||-5.75||-6.47%|
|NCLH||NORWEGIAN CRUISE LINE HOLDINGS LTD.||29.14||-1.89||-6.09%|
CRYPTOS REBOUND DESPITE BINANCE SNUB
Virgin Galactic Holdings Inc. continued to rise after gaining 39% on Friday after the company received regulatory approval to carry passengers into space.
|SPCE||HOLDINGS VIRGIN GALACTIC INC.||54.90||-1.02||-1.82%|
Crypto-related names including Coinbase Global Inc. and MicroStrategy Inc. rebounded as bitcoin exceeded $ 34,000 a coin.
|PIECE OF MONEY||COINBASE GLOBAL, INC.||246.69||+22.15||+ 9.86%|
|BITQ||EXCHANGE TRADED CONCEPTS TRUSTED BITWISE CRYPTO INNOVATORS E||23.16||+1.16||+ 5.25%|
In commodities, West Texas Intermediate crude oil slipped $ 1.14 to $ 72.91 per barrel and gold climbed $ 3 to $ 1,779.60 per ounce.
Overseas markets were weaker.
In Europe, the French CAC 40 lost 0.98%, the British FTSE 100 lost 0.88% and the German DAX 30 lost 0.34%.
Asian markets were down slightly overall, with Hong Kong’s Hang Seng index losing 0.07%, Japan’s Nikkei 225 slipping 0.06% and China’s Shanghai composite 0.03%.